With the median price for a house in Tennant Creek being $230000 and the advertised rent reaching $410 the gross rental yield for property investors calculates out to be 9.27%
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Tennant Creek, NT – Occupancies stay low
Median house price: $190,000
Vacancy rate: 0.6%
Three-year growth: -24.0%
Tennant Creek showcases the heart of the Outback, with a wealth of history, nature and culture. The last gold rush in Australia happened in this area in the 1930s, and since then, it has been known as the Top End’s “heart of gold.”
The Battery Hill Mining Centre celebrates this heritage by offering an underground tour. The Warumungu people reside here, and the Nyinkka Nyunyu Art and Culture Centre pays tribute to the native culture next to the Winanjjikari Music Centre. Lake Mary Ann is a picturesque swimming spot that can be reached via a walking trail through the Honeymoon Ranges.
After prolonged period of decline, Tennant Creek is picking up, with vacancy rates remaining quite tight.